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Great Past, Better Future
Leigh CliffordChief executive Rio Tinto
Brisbane Mining Club – 8 May 2006
2 Brisbane Mining Club – 8 May 2006
87% of Rio Tinto’s assets are in Australia and North America
2005 gross assets = $27bn
United States 19%
Australia 56%
2%Indonesia
3%Europe
4%S America4%Africa
Canada
12 %
Data under IFRS
3 Brisbane Mining Club – 8 May 2006
Economic contribution of Rio Tinto within Australia/NZ in 2005
Other
Australia/NZ
64%
Queensland
36%
Source: Rio Tinto
4 Brisbane Mining Club – 8 May 2006
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000
Black coal
Copper Concentrates
Zinc Concentrates
Oil and gas
Lead Concentrates
Gold
Bauxite
Titanium minerals
Others
A$ millions
Value of mineral production in Queensland in 2003/04
Source: Qld. Department of Natural Resources and Mines, Queensland Mineral and Petroleum Review 2003-04
5 Brisbane Mining Club – 8 May 2006
Contribution of the mining sector to GDP/GSP 2004/05
Mining -
direct
Mining -
indirect
Other
Mining -
directMining -
indirect
Other
Note: Assumes a multiplier effect of 2 to calculate the indirect contribution to GDP
All Australia Queensland
6 Brisbane Mining Club – 8 May 2006
Queensland royalty receipts from the mineral sector
0
200
400
600
800
1,000
1,200
1,400
1995/96 1996/97 1997/98 1998/99 1999/00 2000/01 2001/02 2002/03 2003/04 2004/05 2005/06
.
A$ millions
Projected
Source: Department of Natural Resources and Mines, Queensland Mineral and Petroleum Review and Annual Report 2004-05
7 Brisbane Mining Club – 8 May 2006
Capital expenditure in mining in Queensland
Source: Queensland Resources Council and ABS
0
500
1,000
1,500
2,000
2,500
1989/90
1991/92
1993/94
1995/96
1997/98
1999/00
2001/02
2003/04
A$ millions
private fixed capital investment
8 Brisbane Mining Club – 8 May 2006
Exploration expenditure in Queensland
Source: Queensland Department of Natural Resources and Mines, Annual Report 2004-05
0
40
80
120
160
200
1993/94
1994/95
1995/96
1996/97
1997/98
1998/99
1999/00
2000/01
2001/02
2002/03
2003/04
2004/05
A$ millions
9 Brisbane Mining Club – 8 May 2006
Queensland operations
Weipa (100%)
Blair Athol (71%)Clermont (project) (50%)Hail Creek (82%)Kestrel (80%)
Boyne Island (59%)CAR (100%)QAL (39%)Gladstone power station (42%)
Tarong (100%)
Brisbane offices
10 Brisbane Mining Club – 8 May 2006
China is now the largest consumer of a number of commodities
1st
1st
1st
1st
1st
1st
2nd
0
10
20
30
40
50
Oil Al Iron ore
(traded)
Ni Cu Steel Coal*
Chinese % of global consumption (2005)
Sources: WBMS, Barlow Jonker, IEA *Coal data relates to 2004
Global ranking in 2005
11 Brisbane Mining Club – 8 May 2006
Comalco Alumina Refinery – Stage 1 performance
• Project delivered on budget, ahead of time
• Ramp up to nameplate capacity continues
• Focus is on improving reliability of pumps feeding digestion circuit
0
50
100
150
200
250
300
350
Q4 '04 Q1 '05 Q2 '05 Q3 '05 Q4 '05 Q1 '06 Ratedcapacity
CAR quarterly production (kt)
12 Brisbane Mining Club – 8 May 2006
Hail Creek
13 Brisbane Mining Club – 8 May 2006
Economist index of non-ferrous metals prices
f
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 200650
70
90
110
130
150
170
190
Monthly, January 1996=100
US Dollars
Euros
14 Brisbane Mining Club – 8 May 2006
Sustainable development
• Safe work practices
• Environmental stewardship
• Good indigenous and community relationships
• Economic and social sustainability
• Local and regional economic development
• Energy efficiency / climate change
15 Brisbane Mining Club – 8 May 2006
Rio Tinto’s safety performance
0
0.5
1
1.5
2
1999 2000 2001 2002 2003 2004 2005
LTIFR per 200,000 Hours Worked
LTIFR = Lost Time Injury Frequency Rate
16 Brisbane Mining Club – 8 May 2006
Future Reef partnership
• To preserve the reef’s economic and environmental value through research based solutions
• Rio Tinto Aluminium, Great Barrier Reef Research Foundation and University of Qld
• The programmes:
– Ocean acidification research programme
– Reef searchers employee programme
• A$1 million over four years and inland support
17 Brisbane Mining Club – 8 May 2006
World primary energy demand
Source: World Energy Outlook 2005 - Middle East and North Africa Insights, International Energy Agency, 2005
0
1 000
2 000
3 000
4 000
5 000
6 000
1970 1980 1990 2000 2010 2020 2030
Mtoe
Oil
Natural gas
Coal
Nuclear power
Hydro power
Other renewables
0
1 000
2 000
3 000
4 000
5 000
6 000
1970 1980 1990 2000 2010 2020 2030
Mtoe
Oil
Natural gas
Coal
Nuclear power
Hydro power
Other renewables
18 Brisbane Mining Club – 8 May 2006
Queensland operations
19 Brisbane Mining Club – 8 May 2006
Queensland operations
Weipa (100%) – bauxite
Blair Athol (71%) – thermal coalClermont (project) (50%) – thermal coalHail Creek (82%) – coking coalKestrel (80%) – coking / thermal coal
Boyne Island (59%) – aluminium smelterCAR (100%) – alumina refineryQAL (39%) – alumina refineryGladstone power station (42%)
Tarong (100%) – thermal coalBrisbane offices
20 Brisbane Mining Club – 8 May 2006
Queensland operations
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